Growth will be driven by selective acquisitions and development activity in Europe's key logistics hubs
La Caisse and Prologis announced Thursday the creation of a new pan-European joint venture that will acquire, develop, and operate high-quality logistics properties across the continent, anchored by an approximately EUR$1 billion seed portfolio.
The platform, named Prologis Logistics Investment Venture Europe (PLIVE), will see La Caisse hold a 70 per cent interest while Prologis, the global logistics real estate giant listed on the NYSE, retains 30 per cent.
According to the release, governance rights will be shared between the two partners, with Prologis serving as the operating partner responsible for asset management and development.
"We have seen Prologis' best-in-class capabilities to drive returns firsthand through our partnership in Brazil," said Rana Ghorayeb, executive vice-president and head of real estate at La Caisse. "Together, we will gain greater exposure to the European logistics sector, strengthen execution, and maximize the performance and scale of our logistics portfolio."
The seed portfolio comprises approximately 844,000 square metres of Class A logistics space spanning France, Germany, the Netherlands, Sweden, and the United Kingdom. Valued at roughly CAD$1.6 billion, the initial asset base combines income-generating properties and development sites contributed by both partners, providing the venture with immediate exposure to Europe's most active logistics corridors.
The partnership is not the first collaboration between the two firms as La Caisse and Prologis formed a logistics joint venture in Brazil in 2019, a relationship that both parties say laid the groundwork for this broader European expansion.
Ted Eliopoulos, managing director of strategic capital at Prologis, pointed to the strength of the existing relationship, saying the firms are "combining long-term capital with our operating platform to scale high-quality logistics assets across key markets."
The joint venture reflects growing institutional conviction in the long-term fundamentals underpinning European logistics real estate, particularly as supply chain restructuring, nearshoring of production, and continued growth in e-commerce are driving sustained demand for modern warehouse and distribution facilities.
Under the PLIVE structure, Prologis will manage day-to-day operations, including leasing and development activity, while major strategic and financial decisions will be made jointly. The partners intend to expand the platform through disciplined acquisitions and selective development, drawing on Prologis' sourcing capabilities and operational infrastructure across Europe.
The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals.
